Prior Secured Parties definition

Prior Secured Parties means, with respect to any Common Collateral consisting of ABL Collateral or Non-ABL Collateral and any Junior Secured Parties, any Secured Parties to the extent that the Obligations held by such Secured Parties, or in respect of which such Secured Parties are the obligees, are secured by Prior Liens on such Common Collateral pursuant to the terms of this Agreement.
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Examples of Prior Secured Parties in a sentence

  • In accordance with the Escrow Agreement, it shall deliver or cause the delivery to the Escrow Agent of the Paydown Letters, Direction Letters, Prior Secured Party Allonges and any other documents required in respect of each of the Prior Secured Parties.

  • All payments received by any Prior Agent or any Prior Secured Parties may be applied, reversed and reapplied, in whole or in part, to such part of the Prior Obligations as shall be provided in the applicable Prior Credit Documents.

  • To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available to any Prior Agent or any Prior Secured Parties, each Junior Agent, for itself and on behalf of its Related Secured Parties, agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens granted in contravention of this Section shall be subject to Section 4.02.

  • In accordance with the Escrow Agreement, Originator shall deliver or cause the delivery to the Escrow Agent of the Paydown Letters, Direction Letters, Prior Secured Party Allonges and any other documents required in respect of each of the Prior Secured Parties.

  • Debtor shall furnish to Secured Party a written subordination agreement from the Prior Secured Parties, agreeing to subordinate their security interests to the security interest held under this Agreement.

  • Except for the first and second priority security interests granted to the secured parties named in those certain Security Agreements dated February 20, 2001 and July 13, 2001, respectively (the "Prior Secured Parties"), and the security interest granted herein, Debtor owns, and with respect to the Collateral acquired after the date hereof, Debtor will own, the Collateral free and clear of any lien, security interest, or other encumbrance.

  • If any event of default shall occur under either the Notes or this Agreement, the Collateral Agent and the Secured Parties shall have all of the rights and remedies of secured parties under the Uniform Commercial Code as in effect by the State of New York as well as any other rights and remedies permitted under or provided by applicable law, subject in all respects to the rights of the Prior Secured Parties.

  • Other than with respect to the Liens in favor of the Prior Secured Parties, there exists no “adverse claim” within the meaning of Section 8-102 of the Uniform Commercial Code as in effect in the State of New York (the “UCC”) with respect to the Equity Interests.

  • Secured Party's security interest in the Collateral shall attach to all Collateral as a first priority security interest without further act on the part of Secured Party or Debtor, except in the case of certain patents and copyrights, for which a security interest is held by Amerscan Partners III, Limited Partnership, or its assignees or affiliates ("The Prior Secured Parties").

  • No financing statement, security agreement, or other lien instrument covering all or any part of the Collateral is on file in any public office, except as may have been filed in favor of the collateral agents for the Prior Secured Parties, and Secured Party pursuant to this Agreement.